While Manipur's Bharatiya Janata Party leadership has flown to Delhi to lay rival claims to the post of chief minister of the north-eastern state, National People's Party leader Conrad K Sangma, who had earlier flown to Imphal to seek a place for his party in the new government, seems miffed by hints that the BJP will go ahead and form a single-party government.
Exuding confidence in sustaining the tempo of credit growth, public sector bankers said on Wednesday that consolidation in the public sector bank (PSB) space has given them a robust base to scale. The privatisation of PSBs can be done through divestment of government stake to a wider base of investors without haste. There is nothing to worry about at this point (high credit offtake) as underwriting standards and risk management are much better.
Unlike the 2012 manifesto, the BJP has chosen not to make any extravagant promises.
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With the government pushing key reform measures like insurance and coal block allocation, Finance Minister Arun Jaitley said the country cannot wait even if one of the Houses of Parliament "waits indefinitely".
This will be the first time since the presentation of independent India's first budget on November 26, 1947, that the documents containing income and expenditure statement of the Union government along with finance bill, detailing new tax and other measures for the new financial year, will not be physically printed.
The session will begin with President Ram Nath Kovind's address to the Lok Sabha and Rajya Sabha assembled together in the Central Hall and chambers of both the Houses in view of the COVID-19 situation.
'I believe the modified scheme is much more beneficial and simpler.'
Finance Minister Arun Jaitley to present Union Budget on February 28.
Six of the seven Bills listed on the agenda of the Rajya Sabha have already been passed by the Lok Sabha.
According to the third batch of supplementary demands for grants tabled in the Lok Sabha, approval is being sought for gross additional expenditure of over Rs 1.58 lakh crore.
The session will commence with the maiden address of President Droupadi Murmu to the joint sitting of both Houses of Parliament. The address essentially highlights the government's achievements and policy priorities.
It was after a gap of two decades that saw such an occasion where MPs of the upper house enthralled their fellow colleagues at a dinner hosted by Chairman and Vice President M Venkaiah Naidu for 72 retiring members.
Sitharaman also listed out various welfare schemes like affordable housing, direct benefit transfer and Ayushman Bharat.
The new income tax regime for filing returns has been "sweetened" in the Budget 2023-24 and it will be beneficial for maximum number of taxpayers as they can enjoy a "reduced" tax rate, CBDT chairman Nitin Gupta said. Speaking to PTI during a post-Budget interview, Gupta said the intent of the government while announcing the new slabs and rates under the new tax regime is to gradually "do away with deductions and exemptions" so that the "long-standing demand of reduction of taxes for individual taxpayers and entities can be met." Finance Minister Nirmala Sitharaman, while presenting the Budget 2023-24 in the Parliament on Wednesday, said the government has made the new income tax regime more attractive for taxpayers and has thus brought about 'substantial changes' in its structure for the benefit of the middle class.
Top on the government's agenda would be getting Parliament's approval to the budgetary proposals and presentation of the budget for the Union Territory of Jammu and Kashmir.
Congress MP Lagadapati Rajagopal on Saturday took a swipe at Sonia Gandhi, saying she "ignored" the groundswell of support against division of Andhra Pradesh by not listening to the party leaders on the issue.
A total of 10 members of Hizbul Mujahideen, Lashkar-e-Tayiba and other proscribed outfits were on Tuesday designated as terrorists by the Union ministry of home affairs under the Unlawful Activities (Prevention) Act.
AIBEA said that on April 19 its officer bearers would meet in Punjab to decide the next course of action.
Policymakers are examining the possibility of increasing the tax-free slab to Rs 5 lakh in the two-year-old alternative personal income tax regime to make it attractive, a government official said. At present, taxpayers don't pay income tax if their taxable income is Rs 2.5 lakh and below. Increasing the threshold will reduce the tax outgo for assessees, thereby leaving more money with them to invest, the official said.
The BJP's victory in the desert state was so absolute that the Congress failed to open its electoral account in 17 of Rajasthan's 33 districts! P B Chandra reports.
Significantly, about half of the CEOs who took part in the survey indicated that they propose to increase their investments in near future, 45 per cent cited no change in investment levels, while only 5 per cent expected a fall.
Will G20 showcase an India that is inclusive, culturally rich, diverse and tolerant, asks Ramesh Menon.
The NDA government will be following the footsteps of its predecessor, the UPA, which had introduced the concept of "loan mela" to boost credit by directing banks to lend to people through public meetings.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
BJP President Amit Shah has authorised Union Minister M Venkaiah Naidu to liaise with M Thambidurai and TTV Dinakaran from the Sasikala camp, just in case it turns against the BJP after the income tax raids on its health minister C Vijayabaskar.
Merely bringing down the government stake below 51% may not find any taker for the PSBs. The government must bring down its holding to at least 26%, recommends Tamal Bandyopadhyay.
Finance Minister Nirmala Sitharaman on Tuesday said the government is working out a new Bill on cryptocurrency which will be placed in the ongoing session of Parliament after approval of the Union Cabinet. The ongoing winter session is scheduled to end on December 23. Replying to a series of questions in the Rajya Sabha, she said the new Bill takes into account the rapidly changing dimensions in virtual currency space, and incorporate features of the earlier Bill that could not be taken up.
The Enforcement Directorate (ED) on Monday conducted raids at over a dozen locations in Chhattisgarh including at premises linked to state Congress leaders as part of an ongoing probe into the alleged coal levy scam, officials said.
Her speech was laced with Hindi, Urdu, Sanskrit and even Tamil verses.
He was speaking on the sidelines of a function to inaugurate the new building to house the Environment Ministry.
She recited a Kashmiri verse, which was part of a poem by Sahitya Akademi award winner Pandit Dinanath Koul. She rendered the verse in both Kashmiri and Hindi. Besides, the minister quoted woman Tamil poet Avvaiyar, Tamil poet Thiruvalluvar, a verse from Raghuvamsa by Kalidasa, as well as late finance minister Arun Jaitley while talking about the Goods and Services Tax (GST).
The largest challenge for the gigantic exercise between the Centre and the 29 states was to keep the latter interested over the years.
The Congress has sought action against Enforcement Directorate officials who 'selectively leaked' to some media houses information related to Rahul Gandhi's questioning, as the party also served a legal notice on three Union ministers over the issue.
Shalini Gupta, a freelance writer from Pudicherry, tells Rediff.com's A Ganesh Nadar what she would like to see in Finance Minister Nirmala Sitharaman's Budget.
Opposition presidential candidate Yashwant Sinha on Monday filed his nomination papers for the July 18 election, with a host of leaders including Rahul Gandhi, Sharad Pawar, Akhilesh Yadav and Farooq Abdullah accompanying him.
In the midst of third wave of COVID-19, Finance Minister Nirmala Sitharaman has come up with an impactful Budget which is balanced, fiscally prudent and growth-oriented, the USA India Chamber of Commerce has said. President of the Boston-based USA India Chamber of Commerce (USAIC) Karun Rishi, however, said it is a matter of concern that the budget lacks tangible measures to increase revenue generation. "Opting to keep the fiscal deficit at 6.9 per cent and increase capital expenditure by 35 per cent is a masterstroke. "The annual budget estimates the effective capital expenditure of Rs 10.68 lakh crore in 2022-23, making up about 4.1 per cent of the GDP," he said. "A phenomenal increase in the government's capital expenditure is likely to facilitate the expenditures on infrastructure and create jobs.
In an online chat with readers a few hours after the Union Budget 2015-16 proposals were announced by Finance Minister Arun Jaitley, Sundeep Agarwal, Director, PwC India, answered related queries to help put the announcements into perspective.
Finance Minister Nirmala Sitharaman on Saturday unveiled the budget for fiscal 2020-21, vowing to boost income of Indians and their purchasing power, in a bid to revive domestic economic growth that has slumped.
The Question hour in the Lok Sabha was also washed out for the second consecutive day as an aggressive opposition stalled the proceedings over the same controversy.
The Union Cabinet, headed by Prime Minister Narendra Modi, also observed silence for two minutes in the memory of Mukherjee.
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